How are F&O participants placed for todays closing?

17,000 to act as strong resistance.

Nifty 50 is currently down by almost 350 points or two per cent in today’s trade. Baring a couple of indices all are trading in deep red. IT continues to sulk and realty is also on the worst-performing list. 

Activity on the F&O front for today’s expiry shows 17000 to act as a strong resistance now. The highest open interest contract of 277150 stood at this strike price. The second-highest call option open interest 194088 for Nifty 50 stood at a strike price of 17500. In terms of the highest addition of open interest in the call options front, it was at 17000 in the current trading session. A total of 239780 open interest was added at this strike price. 

In terms of put activity, the highest put writing was seen at a strike price of 16800 where 74476 open interest added till now, followed by 16500 where 69577 open interest added in today’s session. Highest total put open interest (157296) stood at a strike price of 16500. This is followed by a strike price of 17000, which saw a total put option open interest of 148259 contracts. 

The Nifty 50 put call ratio (PCR) closed at 0.63 for the day. A PCR above 1 is considered bullish while a PCR below 1 is considered bearish. 

Max pain at the end of today's trade stands at 17000.